Gamuda joint venture wins RM3.7 billion Taiwan rail contract
Gamuda’s effective share is RM2.7 billion, while RHB Research puts its FY27 contract wins so far at about RM15.2 billion.
A joint venture between Gamuda Bhd and MiTAC Information Technology Corp has secured a RM3.7 billion contract for Taiwan’s Keelung Mass Rapid Transit (MRT) project. Gamuda holds a 72.8 per cent interest in the venture, giving it an effective contract share of RM2.7 billion.
The award covers systems design and construction, along with trackworks, for a 15.6km route with 13 stations across Taipei City, New Taipei City and Keelung City. The New Taipei City Government’s Department of Rapid Transit Systems awarded the contract, which has a completion period of 2,820 days.
The work is an addition linked to the Xizhi-Donghu MRT project. Gamuda won that RM4.3 billion contract in October 2024, with its effective share amounting to RM3.2 billion.
Hong Leong Investment Bank Research said the latest award could lift Gamuda beyond its RM30 billion contract-win forecast for financial year 2027. It estimates that roughly RM6.5 billion of further Taiwan contracts remain available, including Minsheng Line MRT systems and trackworks and a Xizhi-Donghu Line MRT maintenance depot.
RHB Research put Gamuda’s FY27 awards so far at about RM15.2 billion against its RM25 billion replenishment target, and its outstanding order book at about RM63.9 billion. HLIB expects the Keelung project to start making meaningful earnings contributions only in 2028, following initial design and engineering work.
